Many local, national and global businesses with UK operations have been significantly impacted by the coronavirus (COVID-19) pandemic. Cash flows have been impacted, trade and supply chains disrupted and business and consumer confidence damaged.
Many businesses are facing the same challenges at the same time. The key for businesses to resetting for the “new normal” is to consider the options now and take advice. Resetting may involve:
- Re-evaluating supply chains and remodelling financial and business plans
- Restructuring by making redundancies, closing unviable operations or selling loss-making divisions
- Improving cash-flow through rescheduling current facilities, taking out new facilities, debt for equity swaps or other refinancing strategies
- Agreeing informal or formal compromises with creditors
In preparation for the upcoming phasing out of government and other support and temporary measures, we have produced a webpage, along with a UK-specific document that focuses on the below topics, set out by jurisdiction:
- What Financial Help Is Available
- How Directors’ Duties Are Impacted
- How to Prepare for the New Normal
- Changes to UK Insolvency Laws